Newegg Partners with BitPay to Add Bitcoin Payment Option

LOS ANGELES--(BUSINESS WIRE)--Newegg,
the leading electronics e-retailer in North America, today announced a
partnership with BitPay to accept bitcoin
payments on Newegg.com (#NeweggBitcoin). The company’s more than 25
million registered customers can now pay for more than 10.5 million
products including electronics, computers, game consoles and household
items using bitcoin through BitPay. Newegg’s acceptance of bitcoin
payments adds yet another convenient and secure way for its customers to
fulfill their e-shopping needs.

“Newegg’s customers are among some of the earliest bitcoin miners and
are enthusiastic proponents of the crypto-currency. Adopting bitcoin as
a payment method is another way we’re responding to our customers’
diverse needs,” said Soren Mills, Chief Marketing Officer for Newegg
North America. “Working with BitPay to implement a bitcoin payment
option at Newegg was a seamless process and our partnership gives us the
capabilities we require for high-volume e-commerce.”

Newegg chose BitPay because of the company’s industry-leading
reliability and scalability. With BitPay’s platform, Newegg can accept
bitcoin payments and also handle refunds and payment exceptions with the
most powerful bitcoin
API in the industry. BitPay’s singular focus on building
enterprise-grade merchant tools helped the company achieve 99.99% uptime
– unrivaled reliability in the industry.

“Our mission is to make bitcoin every merchant’s favorite form of
payment. Forward-thinking merchants like Newegg allow bitcoin
enthusiasts from around the world to shop with ease,” said Tony
Gallippi, BitPay’s Co-founder and Executive Chairman. “Newegg has been
the most requested retailer from the bitcoin community and our
collaboration will serve this pent-up demand.”

BitPay now serves more than 35,000 merchants and has raised over $32
million in venture capital funding. The company plans to hire 70 new
employees this year to continue developing its product and adding more
merchants. BitPay’s partnership with Newegg is yet another example of
how the company is partnering with leading vendors to bring bitcoin into
mass acceptance.

When completing an order on Newegg.com, customers can now select
“Bitcoin” from the list of available payment methods during stage two of
the order process. Orders processed using BitPay can be completed using
the following options:

If the customer has digital wallet software installed, that customer
can complete an order by clicking the “Pay with Bitcoin” button.

If the customer’s digital wallet is stored in a smartphone, a QR code
can be scanned on the Bitcoin Payment page to complete the transaction.

If the customer’s digital wallet is hosted on the web, the customer
clicks the “View Address” link to display the digital wallet address
and send the bitcoin amount due.

Newegg customers will be able to execute bitcoin transactions beginning
today. For more information about Newegg’s acceptance of bitcoin, visit http://www.newegg.com/bitcoin.

About Newegg Inc.

Newegg Inc. is the leading electronics-focused e-retailer in the United
States. It owns and operates Newegg.com (www.newegg.com)
which was founded in 2001 and regularly earns industry-leading customer
service ratings. The award-winning website has more than 25 million
registered users and offers customers a comprehensive selection of the
latest consumer electronics products, detailed product descriptions and
images, as well as how-to information and customer reviews. Using the
site's online tech community, customers have the opportunity to interact
with other computer, gaming and consumer electronics enthusiasts. Newegg
Inc. is headquartered in City of Industry, California. The Newegg Hybrid
Center is located at 18045 Rowland St., City of Industry, CA 91748.

About BitPay

BitPay is a Payment Service Provider (PSP) specializing in eCommerce,
B2B and enterprise solutions for the Bitcoin digital currency.